While these oil companies may look cheap compared to their highs, it doesn’t mean they are the right sort of oiler’s to buy right now.
You can do very well in stocks without buying a single blue chip. 2015 will produce a new list of top performers. I'll be watching to see how many Goliaths make the honour roll. The weight of numbers should easily favour the Davids.
Poor Jonathan Gruber is getting little support or appreciation. Instead of being thanked for helping us understand how the Obamacare system works, he is being assailed...
Investors have reached a new level of bullishness. They're borrowing again to buy stocks, confident that prices go in only one direction..
"Shares may slip as U.S. mood gets darker," reports Allison Jackson in today's Australian. Indeed. We've had some dark days in the last year here at the Old Hat Factory. But for whatever reason, today is one of the darkest that we can recall. Here's a warning. Today's Daily Reckoning is largely about the growing tension between individual liberty and the coercive power of governments. If that's not your cup of tea, you may want to duck out and have a coffee and join us tomorrow.
Here in Australia, ABC Learning Centres ran out of lifelines yesterday. The company owes creditors over $2.2 billion. People want their money back now (ANZ on the hook for $182 million, Westpac for $200 million). ABC Learning Centres don’t have it. What happens now? Will all those kids in the day care centres be kicked to the curb? Thrown out with their stuffed animals, runny noses, and Matchbox cars?...
“Well, it’s great that a black man can be elected President in America. But it doesn’t exactly expiate the great national sin of slavery does it? Martin Luther King said he dreamt about an America where a man could be judged for the content of his character and not the colour of his skin. But it looks like most black people voted for Obama because he’s black, not because of what he believes. Not that it bothers me much...
As Milton Friedman once said, "If you let the government run the Sahara Desert, soon there will be a shortage of sand."
The big news today: Zimbabwe's opposition party decided that voting wasn't worth dying for. A wise decision, in our opinion. Meanwhile, the British press is making fun of Pillsbury, North Dakota.
Three million rounds of ammunition suitable for AK47s and 1,500 rocket-propelled grenades, were ordered by the Zimbabwean military at the time of the March 29 election - which Britain and other Western powers have accused Robert Mugabe of trying to rig.
The cost of living is cheap in South Africa. But it's going up, just like it is everywhere else. The government announced on Friday that the retail price of petrol and diesel would go up. Consumer price inflation in South Africa is running at about 8%. Curiously, the Friday release of producer price inflation has been delayed "indefinitely," according to Statistics SA. Some of the South Africans we've spoken to in the last six days worry that this country is headed in the direction of Zimbabwe.
Is it really as bad in South Africa as our correspondent wrote yesterday? We have no idea, but promise to report back first-hand if we end up going later this month. One reader says we didn't tell the whole story.
South Africa is gripped in a crisis of rolling power outages caused by the incompetence of highly paid government ministers and their charges. The news of the weekend is that the nation is in dire straits with the supply of clean, drinkable water to households and business alike.